BHP Group (NYSE:BHP) Shares Gap Up to $53.64

BHP Group Limited (NYSE:BHP) shares gapped up prior to trading on Wednesday . The stock had previously closed at $53.64, but opened at $55.12. BHP Group shares last traded at $54.96, with a volume of 389,461 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BHP shares. Barclays restated an “equal weight” rating on shares of BHP Group in a research note on Thursday, May 30th. Citigroup started coverage on BHP Group in a research note on Friday, May 31st. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.00.

BHP Group Stock Performance

The stock’s 50-day moving average is $55.87 and its 200 day moving average is $57.41. The stock has a market cap of $137.56 billion, a price-to-earnings ratio of 10.44, a P/E/G ratio of 3.45 and a beta of 0.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.22.

Hedge Funds Weigh In On BHP Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers grew its stake in BHP Group by 2.1% in the 2nd quarter. Cetera Investment Advisers now owns 55,676 shares of the mining company’s stock valued at $3,179,000 after acquiring an additional 1,137 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new position in shares of BHP Group in the 2nd quarter worth $366,000. Sunbelt Securities Inc. grew its position in BHP Group by 79.4% during the second quarter. Sunbelt Securities Inc. now owns 3,830 shares of the mining company’s stock valued at $219,000 after acquiring an additional 1,695 shares during the period. NewEdge Advisors LLC increased its stake in BHP Group by 70.3% during the second quarter. NewEdge Advisors LLC now owns 74,424 shares of the mining company’s stock worth $4,249,000 after acquiring an additional 30,714 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of BHP Group by 18.6% in the 2nd quarter. Creative Planning now owns 152,943 shares of the mining company’s stock worth $8,732,000 after purchasing an additional 23,965 shares during the period. 3.79% of the stock is owned by institutional investors and hedge funds.

BHP Group Company Profile

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.